Singapore's bid to become a global gold hub
The Singapore Bullion Market Association (SBMA) is executing 'Project Lion II' to transition Singapore from a regional precious metals hub into a global hub on par with London and Zurich.
The argument
The guest argued that Singapore can leverage its open economy, rule of law, and transparent legal system to attract sovereign and institutional physical gold storage. By building out a localized custodian service and a dedicated clearing system, Singapore aims to capture and settle a larger share of the 60% to 70% of global physical gold consumed annually in Asia.
The thesis, stress-tested
✓ What validates it
- ✓Establishment of a government-backed or endorsed custodian service in Singapore
- ✓Launch of a localized Singapore gold clearing system in partnership with major bullion banks by 2030
▸ Risks discussed
- ▸Entrenched legacy systems and liquidity advantages of London (Bank of England)
- ▸Inherent barriers to digitizing physical gold that leaves the chain of custody (e.g., kilobars melted down for jewelry)
Hear it yourself
"Our guest today is Albert Chang, CEO of the Singapore Bullion Market Association. We'll be discussing the SBMA's vision for Singapore to become a leading global center for the trading of gold and other precious metals, and the SBMA's roadmap to making that vision a reality."
00:00 / 00:21
AFFILIATE LINK · ZORTIX MAY EARN A COMMISSION · NEVER A RECOMMENDATION TO TRADE